It seems obvious that grading one's own work will invoke biases, yet many marketers in-source vital aspects of their performance evaluation. According to a report by Boston Consulting Group, the number of marketing technology vendors, each with its own way of improving reach, engaging consumers, and measuring effectiveness, has exploded from 150 in 2011 to almost 4,000 today.
Assemble the smartest ‘hit-squad’ imaginable. Amplify both your strengths and your competitors’ weaknesses. Win with emotion over fact.
The purchasing or procurement function has risen out of nowhere over recent decades. It is now seen as the critical arbiter in the selection and management of suppliers, including marketing communications agencies.
The ANA’s recently published report on Media Agency transparency and the fallout from it remind us just how precarious and fraught the Advertiser-Agency relationship is. And, how quickly things can unravel and spiral downwards.
A recent study found that collaborating with agency partners is becoming increasingly important but that the changing roles of executives at brands and agencies is making this ever more difficult.
In a world of whirlwind consumer change, marketing chiefs will have to adjust their mindset and their working structures for an environment of speed, collaboration and ad-hoc structures to suit every need.
At the annual Economist Group Marketing Unbound event, speakers warned that marketers must face a world of change or a world of trouble.